Ecobank Transnational Incorporated, the parent company of Ecobank Group, has finalized its exit from Mozambique with the sale of its entire shareholding in Ecobank Mozambique S.A. (EMZ) to FDH Bank Plc.
The deal, which secured all required regulatory approvals, completes a divestment plan initially announced on August 5, 2025.
This was disclosed in a statement signed by the company secretary, Madibinet Cisse.
“With this completion, FDH Bank Plc assumes full ownership and operational responsibility of the bank that was formerly owned in Mozambique by Ecobank,” the statement read.
The agreement also covers the transfer of EMZ’s four branches in Mozambique’s major cities, strengthening FDH Bank’s regional presence and growth prospects.
The exit aligns with Ecobank’s broader plan to optimize its operations and concentrate on high-growth markets across the continent.
“This strategic decision aligns with our commitment to Ecobank’s Growth, Transformation, and Returns strategy, ensuring we remain a competitive and meaningful player across the markets in which we operate,” said Jeremy Awori, Chief Executive Officer of Ecobank Group.
FDH Bank Plc, a prominent institution listed on the Malawi Stock Exchange, has now taken full ownership of EMZ’s operations.
ETI noted that the transaction was executed on an arm’s length basis with no related-party involvement and assured stakeholders that banking services, customer relationships, and employee contracts will continue without disruption.
The transaction underscores a broader trend among African banks to streamline portfolios, forge strategic alliances, and preserve customer confidence through seamless transitions.
EMZ, a licensed commercial bank under the supervision of the Central Bank of Mozambique, has been active in the market since 2000. Originally established as Novo Banco SARL, it was rebranded in 2014 after ETI’s acquisition.
FDH Bank Plc, which funded the acquisition entirely from retained earnings, is recognized for its strong digital banking capabilities and diverse service offerings, including corporate advisory, trade finance, and global markets.
Separately, Ecobank confirmed that Nedbank Group Ltd. and Bosquet Investments Ltd.—the private investment vehicle of ETI Chairman Alain Nkontchou—have executed a purchase agreement for the acquisition of a 21.22% stake in ETI.
